unitrust
/ˈjuːnɪtrʌst/
noun
- A type of trust that pays a fixed percentage of its value each year to the beneficiary, with the payment amount changing as the trust's value changes.
- She set up a unitrust to provide her son with annual income based on the trust's current value.
- A unitrust can be a good way to manage assets while ensuring regular income for the beneficiary.
- The charity received donations through a unitrust, which gave the donor a steady yearly payment.